Comments on: Wholesalers: “How Can I Keep My Buyers/Sellers From Cutting Me Out?”

By: Mikenmelissa420

Mikenmelissa420 — Fri, 11 Jun 2010 11:09:55 +0000

Thanks for all the advice everyone.I appreciate it.I've tried a variety of tactics to find my own deals( bandit signs, joining sites like realtytrac, searching FSBO websites, ect). I figured I'd try going through realtors to see how good that works.

I need a system that really works without spending a ton of money looking for leads.I know there's a way.I'll keep trying different ideas. I will stay persistent. Once I get a good system down that works for me, I will be rockin the REI world.

Have a great weekend everyone.
Mike

By: Corporate Housing Guy

Corporate Housing Guy — Tue, 01 Jun 2010 11:28:00 +0000

Thanks for the sharing your knowledge and thought, this gonna be a big help to me and to others. Keep on posting informative article.

By: Corporate Housing Guy

Corporate Housing Guy — Tue, 01 Jun 2010 11:28:00 +0000

Thanks for the sharing your knowledge and thought, this gonna be a big help to me and to others. Keep on posting informative article.

By: Film ve Dizi Download Merkezi

Film ve Dizi Download Merkezi — Sun, 23 May 2010 13:37:28 +0000

One way of preventing my buyers/sellers going around me is, I always have them sign my ( Non disclosure and Confidential ) agreement before I give out any info. it helps but NO Guaranty.

By: Brandon Yeager

Brandon Yeager — Sat, 01 May 2010 20:25:31 +0000

I agree that at some point or another, it may happen. But chances are, its probably not going to end up being one of your stand up buyers that come back to you time and time again. They'll be a one and done, and they'll end up literally cutting themselves out of future deals.

Also, I'd try not to get hung up on the “what-ifs”. Just make it happen, and if it does, I'd deal with it then. I know the “what-ifs” pop up a lot for new folks. I still get them today, but the real key is to not let them hold you back from taking action. That is when it is just time to move forward.

By: jp moses

jp moses — Tue, 27 Apr 2010 23:26:30 +0000

Awesome points, brother. Thanks!

By: Jared

Jared — Tue, 27 Apr 2010 21:29:25 +0000

JP,
Glad to shead some light and it made more sense. I do see how the way you did it that people might be more likely to do it though. Good point you have here. So far I have not had any trouble but this does give me another angle to work from so thanks! I didn't say who's program I was refering to b/c I didn't know if you would want me to mention it. Thanks for your quick response and as always I enjoy communicating on your blog and all the updated news you send out. It keeps me on the up-and-up on whats going on and new creative ways of being an investor!

Jared

By: jp moses

jp moses — Tue, 27 Apr 2010 20:41:09 +0000

I see, Jared. That does make a little better sense. But still, I'm thinking an agreement to get paid on a certain "X" number of future deals between your "A" and "C" would be more reasonable. It doesn't seem reasonable to me that you should get a piece of the pie forever and ever amen just because you matched the two initially. But that's just my take.

I had a similar arrangement with a local friend of mine. If I referred a buyer to him, I'd get paid on the next 4 deals they did together, regardless. But after that he wasn’t required to pay me unless I brought something new of value to the table.

Just something to think about.

...jp

By: Jared

Jared — Tue, 27 Apr 2010 19:58:36 +0000

JP,
Yes I can see what you are getting at here. The one I have simply says if I connect person “A” to person “C” then any time person “A” buys from person”C” I get paid b/c I developed the relationship. Maybe this exlaination is more clear on what I meant. Basically if I find a wealthy investor in lets say Tnn and I introduce him to a broker in Michigan that can get him many discounted homes he can buy for rentals then any time he bought from that person I would get paid. This is supposed to be how it would work from my best understanding. I did pay for a “guru” program and have implimented these contracts with several individuals and there are plans set forth to do some big deals that will take a long time before they unfold and are done so it will be a while before I know the outcome. Hope it does what it says! Did this make any sense JP? What is your take?
Feel free to email me direct or call if you like.

By: Craig Fuhr

Craig Fuhr — Tue, 27 Apr 2010 04:43:01 +0000

I would only add...

"FIND YOUR OWN DEALS"

I know that sounds blunt, but it really speaks to #2 above. There are two things EVERY wholesaler must have;

1. BUYERS
2. DEALS that MATCH PRECISELY what your buyers are looking for.

That lack of either makes you a very unhappy wholesaler. Now, its fine to market deals for others, that's cool and I know a couple very successful wholesalers who do that, but if you REALLY want the big pay days, find your own deals, match them with your buyers - and split those paydays with No One!

Hope this helps.